Which of the following balance of payments definitions is accurate?
a. International transactions between the citizens of one country and the citizens of foreign countries during a given period of time.
b. International payments between the citizens of one country and the citizens of foreign countries during a given period of time.
c. International transactions between the residents of one country and the residents of foreign countries at a given point in time.
d. International transactions between the residents of one country and the residents of foreign countries during a given period of time.
e. International monetary payments between the residents of one country and the residents of foreign countries during a given period of time.
.D
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A) IS, major B) IS, minor C) LM, major D) LM, minor
If the total cost function is TC = Q3 - 6Q2 + 14Q + 75, at what output is the AVC = MC?
What will be an ideal response?
What is the likely effect in an economy when total spending is too low?
a. inflation b. tax increases c. unemployment d. efficiency